Carl Icahn

Wall Street Reacts To Steve Mnuchin Choice For Treasury Secretary

Following the news that Steve Mnuchin would be US Trasury Secretary, Wall Street analysts offered mixed predictions on which policies Donald Trump’s choice for Treasury secretary may pursue, as they have little to go on other than Mnuchin’s background with Goldman, buying/selling the former Indy Mac.

Carl Icahn Says Stock Rally May Be Overdone, Calls Trump A "Consensus Builder"

Having turned decidedly bullish in the immediate aftermath of the Trump victory, his supporter Carl Icahn said the strong rally in U.S. stocks since last Wednesday's "shocking" event might be overdone, however he added that investors can expect the president-elect to be a consensus builder who can help fix Washington and improve the economy. "When it runs up like this, I scale off a little bit," Icahn said adding "that doesn’t mean that I am that negative or positive."

Trump Goes To The White House At 11am To Begin Transition Process

  • 11:00 am: Trump meets with Obama in the Oval Office
  • 12:30 pm: Trump and his vice president-elect, Mike Pence, will meet with House Speaker Paul Ryan for lunch.
  • 2:45 pm: Pence and Biden will hold a closed-press meeting at the White House, the vice president’s office said.

Everything Is Soaring As Trump Makes Buying Stuff Great Again

The global repricing of inflation expectations continues at a feverish pace in the aftermath of the Trump victory, leading to another surge in US equity futures, up 15 points or 0.7% to 2175 at last check, with Asian and European stock market all surging after the initial shock of Trump’s election victory gave way to optimism for fiscal stimulus will provide a boost to the global economy.  Commodity metals soared with copper surging the most since May 2013.

Carl Icahn Bought $1 Billion In Stocks During "Trump Crash"

While Donald Trump celebrated his surprise election win over Hillary Clinton and equity futures swooned in response, billionaire investor and Trump supporter Carl Icahn headed home to start trading. Icahn, left President-elect Trump’s victory party in the early hours of the morning to buy about $1 billion in U.S. equities, he said Wednesday in an interview with Erik Schatzker.

Frontrunning: November 9

  • IT'S TRUMP! STUNNING OUTSIDER VICTORY FOR 45TH PRESIDENT (AP)
  • Trump Surges to Stunning Victory (WSJ)
  • Trump takes the White House in stunning upset (Reuters)
  • Trump Pledges to Rebuild America (WSJ)
  • ‘Deplorables’ Rise Up to Reshape America (WSJ)
  • Trump, as Outsider, Broke Every Rule on Road to Victory (WSJ)

Herbalife CEO Resigns

In a major surprise from alleged pyramid scheme Herbalife, which recently has been accused of far greater transgressions than merely being in violation of FTC diravtives, moments ago Herbalife announced that  CEO Michael Johnson was resigning, and would be replaced by Richard Goudis, the company's currently COO.

Carl Icahn Shuts Trump Taj Mahal After 26 Years Of Operation; 3,000 Union Workers Lose Their Jobs

The Trump Taj Mahal, which Donald Trump opened 26 years ago calling it "the eighth wonder of the world", officially closed today. To be sure, the now defunct structure had no trace of ownership to Trump, and instead was until yesterday owned by Trump's friend and fellow billionaire Carl Icahn, who closed the casino on Monday morning, making it the fifth casualty of Atlantic City's casino crisis. Nearly 3,000 workers lost their jobs, bringing the total jobs lost by Atlantic City casino closings to 11,000 since 2014.

Paul Singer Warns It Is A "Very Dangerous Time" For Stocks, Prefers Gold

Having previously warned that "the ultimate breakdown from this environment is likely to be surprising, sudden, intense, and large," Elliott Management's Paul Singer slammed the "amazing arrogance" of policy-makers who have "created a tremendous increase in hidden risk, risk that investors don't exactly know." As CNBC notes, Singer issued cautionary words for the path ahead, "it's a very dangerous time in the global economy and global financial markets," adding that gold was "under-represented" in investors' portfolios.